Big Setback For Fugitive Nirav Modi As UK Court Rejects Bail Plea For 10th Time

New Delhi: In a major setback to fugitive diamond merchant Nirav Modi, the High Court of Justice, King's Bench Division, London, has once again rejected his bail petition, the 10th such plea since his arrest in March 2019. The Central Bureau of Investigation (CBI) confirmed the development, stating that the bail arguments were strongly opposed by the UK Crown Prosecution Service with active support from a CBI team that travelled to London.

Court Flags Flight Risk in High-Value Fraud Case

The UK court maintained its firm stance, citing the magnitude of the charges against Nirav Modi in the Punjab National Bank (PNB) scam. “This case involves, by any footing, a very substantial fraud allegation... not one where bail can be granted,” the judge reiterated, underlining Modi’s status as a significant flight risk.

Nirav Modi Cites Alleged Threats to Life

In his latest petition, Nirav Modi claimed he would not flee the UK, citing alleged threats to his life from the Indian government. His lawyer referred to purported international plots against Sikh activists as part of the argument. The Indian government has categorically denied any such involvement.

Facing Extradition and Multiple Charges in India

In December 2022, the UK High Court approved Modi’s extradition to India, where he faces three separate criminal proceedings:

A CBI case involving fraud on Punjab National Bank.

An Enforcement Directorate case tied to money laundering.

A third case related to alleged tampering with witnesses and evidence in the CBI investigation.

Fugitive Since 2018, Accused of Siphoning Off ₹6,498 Crore

Nirav Modi fled India in January 2018, just weeks before the ₹13,000 crore PNB scam was exposed. He is personally accused of siphoning off ₹6,498.20 crore. Despite his denials of wrongdoing, Indian authorities have pursued his extradition relentlessly.

Mehul Choksi Also in Custody

Nirav Modi's uncle and co-accused, Mehul Choksi, was arrested last month in Belgium. Choksi, like Modi, has denied all charges against him. Both face a host of legal battles for their alleged roles in India’s biggest banking fraud.